| مستخلص: |
The article focuses on personal saving behavior and the rate of inflation. Personal saving rates, that is the ratios of personal saving to personal disposable income, in many industrialized countries have risen dramatically in recent years. A number of attempts to explain the phenomenon of rising saving rates coinciding with price inflation have drawn upon the work of economist George Katona, who has stressed the feeling of uncertainty and pessimism about the future caused by inflation that, in turn, encourages saving. In this study a general model of aggregate household saving behavior has been formulated. Data on Canada, Germany, Japan, Great Britain, and the U.S. are used to estimate the personal saving function in each of the countries and the results are used to test various hypotheses about personal saving behavior. This article has two major objectives, which includes a test for a direct influence of inflation on personal saving after taking into account the influence of other relevant factors. |
